Telegram ICO collapsed, so what are Kenes Rakishev’s options?

Kenes Rakishev, the worldwide known venture investors, and a whole bunch of other financial partners of Pavel Durov’s Telegram (TON) ICO are facing the question of getting their money back. Durov’s venue was barred from launching the TON ICO and Gram payment token as well as the TON Network.

Kenes Rakishev, in an early interview to CNNews clarified his position on the likeliness of the whole project’s collapse. The Kazakhstan businessman valued Durov’s creation as a important tool. It could be even more useful if the TON/Gram tandem would be launched. However it wasn’t the case. According to preliminary information Kenes Rakishev put 20 million in it.

He described his decision:

“Then I see, that the owners of popular messenger platform intend to build the real blockchain around it. Telegram is not just a messenger, it is a news source for many of its users. Telegram offers news channels, social network, independent VPN. It has a concept to implement it in blockchain.”

The project collapsed due to US unprecedented court decision which made the global TON trade illegal. It is ex-territorial by nature and thus TON can’t be launched. Pavel Durov acknowledged defeat. TON was banned due to financial regulations, however the true ground for the decision was politically motivated. As TON will make the internet virtually uncensorable, most states oppose it and US is the main driver of the ‘soft censorship’ across the globe.

According to the preliminary information Pavel Durov is ready to return 72 percent of investments. It leaves him with no other options than to sell the Telegram messenger project. This censorship-proof fast and reliable messenger is of great value by itself. It is unknown what type of refunding options will Kenes Rakishev chose.

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